Committing to a sustainable economy
A year of acceleration2O21 A YEAR OF ACCRLERATION
TAKING ACTION FOR A CARBON‑NEUTRAL ECONOMY
FOR MORE THAN TEN YEARS, BNP PARIBAS HAS BEEN WORKING TOWARD THE ECOLOGICAL TRANSITION BY PLACING ESG ISSUES INTO THE HEART OF ITS BUSINESS LINES AND DECISIONS. THE GROUP PROGRESSIVELY INTEGRATES CLIMATE CONSIDERATIONS INTO ITS PORTFOLIO MANAGEMENT AND COMMERCIAL STRATEGIES.
KEY COMMITMENTS
In recent years, BNP Paribas has implemented policies to end the financing of the most polluting energies (coal, non‑conventional hydrocarbons, etc.). In 2022, the Group has also committed to reducing its credit exposure to oil and gas exploration and production activities by 12% between 2020 and 2025. Moreover, the Group has become a world leader in financing the energy transition and fully supports its customers committed to this transformation.
MAJOR PROGRESS IN 2021
In April 2021, the Group participated in the creation of the Net‑Zero Banking Alliance launched by the UN Environment Programme. The 106 signatory banks are committed to a common goal of financing a carbon‑neutral economy by 2050 to limit the rise in temperatures to 1.5°C by the end of the century. Similarly, BNP Paribas took part in the creation of the Financial Services Taskforce (FSTF) launched by the Sustainable Markets Initiative (SMI). This group worked on the role of financial services in reducing CO2 emissions, fostering a low‑carbon economy and financing sustainable infrastructure projects. These discussions led to the publication of a guide to support the banking sector in the implementation of net‑zero commitments.
RESPONSIBLE INVESTMENT
For its part, by joining the Net‑Zero Asset Owner Alliance, BNP Paribas Cardif is committed to measuring the alignment of its portfolio with the Paris Agreement and developing investments related to the climate transition. In 2021, its positive impact investments already totalled €1.5bn. As for BNP Paribas Asset Management, it took part in the Net‑Zero Asset Managers Initiative – alongside 236 asset managers representing more than €57,500bn in assets – to support investments aligned with the target of net‑zero emissions by no later than 2050. The two businesses are also stakeholders in the Climate Action 100+ initiative, which aims to encourage companies that emit the most greenhouse gases to fight against climate change.
May 2022
The Group published its first Climate Analytics and Alignment Report, which highlights its early commitments to finance a net‑zero economy by 2050.
Read the report on group.bnpparibas
Euromoney
recognises BNP Paribas
As part of the Euromoney Global Awards, the financial magazine of the same name recognised BNP Paribas for its leadership in sustainable finance. The Group received awards for "World’s Best Bank for Sustainable Finance", "World’s Best Bank for ESG Data and Technology" and "World’s Best Bank for Public‑Sector Clients".